FSW WORLDWIDE

[GandiBaat]

This is a common cycle in Canada. Every incumbent government is voted out after their two terms are up.

No. Not really.

1940-57 Liberal Party
57-62. Prog. Conservatives
62-79. Liberal Party
79-79. Prog. Conservatives
80-84. Liberals
84-93. Prog. Conservatives
93-05. Liberals
06-15. Conservatives
15-now. Liberals

Liberals are way more dominating.

 

[GandiBaat]

The video is from a right wing nut, but this is still very shameless, and I find these things very unsettling. No vision for life, no morals, no dignity, and no ethics in these creators.

The guy is WRONG. My wife sometimes get few cans of grams from food bank and often volunteers there in the university and it does not work like he is saying. Few things about community/university food banks:

1. Items are VERY near their best before date. So, forget about hoarding them. They are more like "use them" or "lose them".
2. Each food bank has a "checkout counter" of types and volunteers limit the food you take -- if you are shameless enough to take in excess.
3. Students are NOT typically married or are with kids. So "diapers for free" is virtually non-existant.
4. Vast majority of students do not really cook. Meaning.... food banks are not really useful for them. They eat in cafeteria.

 

[GandiBaat]

I'm a VC scout. I've been extremely critical of Canadian ecosystem for it's ability to grow. A good example to show how bad Canadian ecosystem is (in terms of talent, founders, etc) when you compare it with Israel. Both are small countries ~9 mil population in Israel, but vastly different scale of growth and overall output.

Canada has the a loop of bad business output simply because:
1. The ecosystem is monopoly focused(e.g. retail) or leverage focused (e.g. real estate) - so there's no incentive to innovate/hustle/take risks and it has been stripped from the culture's DNA.
2. Large number of Founders/Execs with age old business practices that isn't going to lead to compounding growth.
3. A horrible workforce with low EPS (earning per share per employee).

I don't blame people for not learning if they can sit and monetize 5% YoY APR real estate (GVA). Clearly, rich have little to no incentive to change their ways of working. They can buy cheap, sell high and then host $150k/hr Yacht parties.

Otoh, there's a lot of private equity money in Canada, but hardly any worth takes when each LP is up. Our last batch of LPs was in June-July, most of it was forced investing. VCs like Susa bag a lot more Canadian companies as they aren't just another partner who's going to liquidate assets on made up numbers and figures, while most Canadian VCs and founders chase imaginary numbers. The Canadian ecosystem is the problem right now where everything need to happen at the same time for it to work (better founders, better VCs, better workforce).

Look, fundamentally, Canada has been a resource rich, vast, thinly populated country -- very unlike israel. Its socialist setup ensures its citizens get decent healthcare, decent food, good benefits, decent education and retirement. Heck even now, if you are up for it, many small sized towns in Canada are very cheap to live. The incentive to hustle are ... very less.

At 60-70% home ownership means a vast majority of Canadians will see their capital rise over their lifetime. Why to do all the hustle when you will be way richer by just buying, paying off and holding your house?

And then there are taxes. Why hustle if government is going to eat up most of your earnings?

 

[GandiBaat]

I thought you mentioned a guy over here that left Canada because of health issues that got worse while he was in Canada? Regardless, more immigrants -> higher cost of living -> nurses/doctors leave Canada for the US -> less personnel available and thus, less care.

I have written about this in past. Actually, Doctors and Nurses are not really impacted by cost of living. They are fairly high earning folks. For all the hoopla about cost of living, its not really hyperinflation-bad.

The bigger issue for doctors and nurses have been a burnout and beaurocratic setup that provincial insurance system is. For each hour spent in clinic, doctors have to spend a similar time to complete all the paper work to get their fees from the province. And that time is not really paid for. Also, family practice -- the most affected part of health care, is more like running a small business. Not everyone's cup of tea. And commercial real estate has exploded in past while provincial payouts have not kept up.

Its an issue that has been discussed even as far as 2010 or so.

Then there is another historical issue with Canada. In 1990s Canadian felt that they are paying too much for healthcare because there are too many doctors. So they throttled the number of medical residencies. This was never revised in 2000s and we are seeing its impact now. Again, a beaurocratic mistake.

Allure of US has been an independent factor. And no, rising cost is not really pushing people to USA. It has always been ability to work for the highest bidder. In Canada, the bidder is always government.

The medical system crisis in Canada is way more complex and immigrants certainly are not the root or even a major cause. Its just Canadians being Canadian and by Canadian I mean "Soviet".

I don't believe that. Not after November 2022. I am curious to see the statistics you refer to, since I have had an opposite experience.

https://www.bloomberg.com/news/articles/2023-03-09/immigration-to-canada-trudeau-s-push-wins-support-despite-housing-crunch#xj4y7vzkg

• Canadians say open-door policy benefits economy, poll finds
• Nearly half back plan to welcome 465,000 newcomers this year

A majority of Canadians sees increasing immigration as an economic boon, and nearly half support this year’s target, despite a housing shortage that threatens to further drive up real estate prices and rents.

Polling by Nanos Research Group for Bloomberg News shows 52% of respondents say Prime Minister Justin Trudeau’s plan to increase the number of new permanent residents each year will have a positive impact on Canada’s economy. That compares with 38% who see the increase as a negative.

The poll was done between Feb 2023-March 2023.

Reddit has too many young people. They are obviously getting shorter end of the stick.

 

[iSaidGoodDay]

The Liberals basically admitted to Canada (for life) a bunch of leeches, for the sole purpose of being able to say they met the immigration target despite COVID.

This is literal dehumanization. Whatever our stand on international students is, none of it warrants dehumanization for cheap gratification. Get a life!

 

[GandiBaat]

There was only one line about capping, and 99% content was about everything else. Regardless, at least they are talking about it now.

There is capping and there is reducing. Canada will do capping. 1 million cap. LOL!

 

[GandiBaat]

@KenshiMK1 @abhiram.kumar
The support for higher immigration has gone up from 2020 to March 2023 from 53% to 61%. More strikingly, support for LOWERING immigration fell from 40 to 34%.

Source : https://nanos.co/wp-content/uploads/2023/03/2023-2328-Bloomberg-Feb-Omni-Populated-Report-with-tabulations.pdf
Referred in : https://www.bloomberg.com/news/articles/2023-03-09/immigration-to-canada-trudeau-s-push-wins-support-despite-housing-crunch#xj4y7vzkg

 

[Impatient Dankaroo]

@KenshiMK1 @abhiram.kumar
The support for higher immigration has gone up from 2020 to March 2023 from 53% to 61%. More strikingly, support for LOWERING immigration fell from 40 to 34%.

Source : https://nanos.co/wp-content/uploads/2023/03/2023-2328-Bloomberg-Feb-Omni-Populated-Report-with-tabulations.pdf
Referred in : https://www.bloomberg.com/news/articles/2023-03-09/immigration-to-canada-trudeau-s-push-wins-support-despite-housing-crunch#xj4y7vzkg

There are lie, damn lies and then there are statistics! -Isaac Newton

 

[GandiBaat]

There are lie, damn lies and then there are statistics! -Isaac Newton

Incidentally, Newton was wrong about a lot of things including light and speed of sound. He was ... last of magicians and sort of first of scientists.

 

[navinball]

The guy is WRONG. My wife sometimes get few cans of grams from food bank and often volunteers there in the university and it does not work like he is saying. Few things about community/university food banks:

1. Items are VERY near their best before date. So, forget about hoarding them. They are more like "use them" or "lose them".
2. Each food bank has a "checkout counter" of types and volunteers limit the food you take -- if you are shameless enough to take in excess.
3. Students are NOT typically married or are with kids. So "diapers for free" is virtually non-existant.
4. Vast majority of students do not really cook. Meaning.... food banks are not really useful for them. They eat in cafeteria.

still doesnt explain why that patel needs a hundred tomatoes.

 

[iSaidGoodDay]

still doesnt explain why that patel needs a hundred tomatoes.

The video never explained that they(Mr. Patel) went with a large group and this was for all of them. As I said, while it is shameful, it will be blown out of proportion with missing context. If desis like you failed to see it, pretty sure Canadians wouldn't fact check it either.

 

[Lord_Tony]

The video never explained that they(Mr. Patel) went with a large group and this was for all of them. As I said, while it is shameful, it will be blown out of proportion with missing context. If desis like you failed to see it, pretty sure Canadians wouldn't fact check it either.

The Patels I have heard own most of the motel chains in the USA and a lot of restaurants. May be Mr.Patel from Canada supplies to them

 

[Taran D]

still doesnt explain why that patel needs a hundred tomatoes.

To send them to their friends all over the country so that they can photocopy them and then sell them by increasing the price branding them as foreign imported tomatoes!!!

 

[iSaidGoodDay]

The Patels I have heard own most of the motel chains in the USA and a lot of restaurants. May be Mr.Patel from Canada supplies to them

60% of all motel business to be precise. I was recently talking to someone who makes $2.5+/yr through motels alone. The economics, dedication and the unwillingness of Americans (and Canadians) to grind at these jobs have made them filthy rich. This is also true for GTA, where garbage management business is dominated by Punjabi folks too.

Very simple business model, buy a business like this: https://www.loopnet.com/biz/Business-Opportunity/priced-to-sell/2083235/ grind 70 hours/week for 2 years (they don't hire anyone here), get a cashflow and do a CMBS loan for another motel/liquor store/etc. They do it 3-4 times and then they retire. If they don't have money, they pool together in partnership of 2 or 3, which ensures compliance for CMBS and faster growth.

A very good example of opportunities for someone looking for it here.

 

[Impatient Dankaroo]

60% of all motel business to be precise. I was recently talking to someone who makes $2.5+/yr through motels alone. The economics, dedication and the unwillingness of Americans (and Canadians) to grind at these jobs have made them filthy rich. This is also true for GTA, where garbage management business is dominated by Punjabi folks too.

Very simple business model, buy a business like this: https://www.loopnet.com/biz/Business-Opportunity/priced-to-sell/2083235/ grind 70 hours/week for 2 years (they don't hire anyone here), get a cashflow and do a CMBS loan for another motel/liquor store/etc. They do it 3-4 times and then they retire. If they don't have money, they pool together in partnership of 2 or 3, which ensures compliance for CMBS and faster growth.

A very good example of opportunities for someone looking for it here.

I believe you man, I swear my gujju landlord during uni was the thrifiest b@st@rd I ever met. He had a quota on how much aircon we (students) would get in a day and also he jacked up the laundry machine to 10$ per spin.

They were also Patels.